Japanese shipyards in May received foreign ship orders for 16 vessels, or 669,000 grt, up 371.8 percent from May 1998, the Japan Ship Exporters' Association said. The level, however, was down 43.9 percent from May 1997, it said. Orders in May consisted of nine bulk carriers and seven oil tankers. In April, foreign ship orders fell 40.1 percent year-on-year.
Japanese shipyards in June received foreign ship orders for 20 vessels, or 667,500 grt, down 24.4 percent from a year earlier, the Japan Ship Exporters' Association said. All of June's orders were bulk carriers. The most recent figure represented an increase of 17.8 percent compared to June 1997, it said. Last month, May orders marked a year-on-year increase of 371.8 percent.
Daewoo Heavy Industries won $483 million in ship orders last week from companies in the U.S. and Greece. It will build four ultra large crude oil carriers for Majestic Shipping Co. of the U.S., and three very large crude oil carriers for Aeolos Management S.A. and Atlantic Bulk Carrier Ltd of Greece, a company statement said. Majestic ordered two 450,000-ton ultra crude oil carriers and took options on two more. Atlantic Bulk ordered two 75
Korean Ship Orders Up 322% New orders received by South Korean shipbuilders in February totaled 1.26 million gt, up 322.7 percent from the same month a year earlier, provisional figures from the Korea Shipbuilders' Association showed. Orders received in January-February period totaled 2.32 million gt for 37 ships, up 232.1 percent from the same period a year ago. Korea received orders for 21 new ships in February. Ten ships, totaling 718,000 gt, were completed during the month
According to a report from the Kyodo news service, the combined tonnage for ship orders received by South Korean shipbuilders was higher than that of Japanese shipbuilders in 2002. The Shipbuilders' Association of Japan reported that Japanese shipbuilders received orders worth a combined 5.9 million tons in the year, down 25.9% from 2001. South Korean shipbuilders reportedly received orders for a combined 7.59 million tons, up 18
Japanese export ship orders fell 8.5 percent in June from a year earlier, reveal figures by the Japan Ship Exporters’ Association (JSEA). Japanese export ship orders fell 8.5 percent in June from a year earlier to 499,370 gross tons, according to figures released by the Japan Ship Exporters’ Association (JSEA). The 8.5 percent decline in June was the third straight monthly drop year on year and was significantly slower than the 43.5 percent drop in April and 44
South Korea's Samsung Heavy Industries won $400 million in ship orders from companies in Greece and Germany. Samsung received an order to build four 300,000 dwt VLCC from Greece's Helespont Shipping for $280 million. It also received an order from Germany's Nordcapital Corp to build two 5,750 teu containerships worth $120 million. Samsung said it will deliver the ships to the two companies by the end of 2001. Samsung said its shipbuilding orders have reached $2
Japanese shipyards received foreign orders for 21 vessels totaling 581,100 GRT in July, down 39.6 percent from a year before, the Japan Ship Exporters' Association said. In all, 19 orders were for bulk carriers and two for freighters.
The China Shipbuilding Industry Corp. (CSIC), built 3.17 million tons of new ships in 2005, up 47 percent. In 2005, the CSIC received 3.73 million tons of new orders and 2.85 million tons of new ships are under construction. The profit it earned topped $123.9 million, up 85 percent year-on-year. China's shipbuilding companies built 12 million tons of new ships in 2005, accounting for 18 percent of the world market, ranking third after the Republic of Korea and Japan
In a bid to assist all sectors, China is to increase cash subsidies for scrapping obsolete ships by 50 percent to help cut over-capacity and emissions, reports Bloomberg. The government will grant 1,500 yuan ($247) per gross ton for shipping companies to replace obsolete ships, according to a statement noted by Bloomberg on the transport ministry website. The award applies to vessels scrapped in the years 2013 through 2015.
The shipping industry is experiencing the biggest dry bulk market recession since the 1980s, as uncertain global economic outlook and increased imbalance between supply and demand have lead to historically low freight rates .It seems the downturn will continue until 2017 if a viable equilibrium is
Costa’s two new cruise ships will be the largest ever built based on guest capacity; Costa will join sister brand AIDA Cruises in building the first-ever cruise ships powered at sea by liquefied natural gas Carnival Corporation & plc today announced that its Italian brand
Lockheed Martin Corp on Friday welcomed the U.S. Navy's decision to use Lockheed's integrated combat system for future frigate-class ships to be built beginning in fiscal 2019, saying it would allow greater commonality across the entire Navy fleet.
MacGregor, part of Cargotec, plans to reduce workforce in MacGregor Uetersen site in Germany to restructure the operations to the weak market demand. The market situation has deteriorated due to the low oil price and low number of new merchant ship orders
AP Moller-Maersk has returned to South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering for its latest series of ultra-large container ships (ULCS), reports The Korea Economic Daily. The total contract to build 11 ultra-large containerships is worth US$1.7 billion
Financially troubled Chinese shipbuilder Sainty Marine has announced Bank of China and China Exim Bank have frozen its bank accounts. Shenzhen-listed Sainty Marine has also announced that it has reached an agreement with Dutch ship investment firm, Universal Marine
As the construction of ultra large container ships gained momentum, Korean shipyards are sweeping up the market, according to a report appeared in Business Korea. Total orders of 21 container ships exceeding 20,000 TEU in capacity were placed globally from the end of last year to
The National Shipping Co. of Saudi Arabia (Bahri) signed contracts on Thursday with Hyundai Samho Heavy Industries (HSHI) to build five very large crude carriers (VLCCs), with an option for additional five more vessels, the company said in a bourse statement.
Bahri ordered five newbuild very large crude carriers from Hyundai Samho Heavy Industries The National Shipping Company of Saudi Arabia (Bahri) today signed an agreement with Hyundai Samho Heavy Industries (HSHI) Co. Ltd. to build five very large crude carriers (VLCC)
Mammoth dry dock investment to support construction of 20,000 TEU containership series During the second half of the 20th century, the Japanese ruled commercial shipbuilding. Today, numerous competitive forces in the Far East, led by South Korea and China
China’s total international shipping volume will reach 6.2bn tons, which will account for 17% of the world’s shipping volume, says 2030 China Shipping Development Outlook report published by the Shanghai International Shipping Institute.
Carnival Corporation has signed a multi-billion dollar contract to build four next-generation cruise ships with the largest guest capacity in the world. The four new ships will be the cruise industry's largest yet—but only in head count, not in size.
88 medium-size and large shipbuilding enterprises in China realized an aggregate gross industrial output value of RMB 163.0 billion ($26.3 billion) during the January-May period this year, up 5.5 percent year on year, says China Association of the National Shipbuilding Industry (CANSI).
On June 16th, Shanghai Shipyard Co., Ltd. under CSSC and COSCO (Guangdong) Shipyard received 3 survey ships order. The 3 ships include 2 comprehensive physical survey ships and 1 comprehensive geophysical survey ship. The 2D six cable physical survey ship designed by the No
South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., have secured the largest amount of new orders in the first six months of the year to retain the top slot, while the global shipbuilding industry saw new orders halve